Exploring the Synergy Between Shardeum and Bitget

Exploring the Synergy Between Shardeum and Bitget

Bitget has soared to the pinnacle of the crypto world, cementing its position as a leading cryptocurrency exchange across the...

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About Bitget

In just a short span of under five years since its launch in 2018, Bitget has soared to the pinnacle of the crypto world, cementing its position as a leading cryptocurrency exchange across the globe. Serving over 8 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. Among the innumerable exchanges in the crypto market, Bitget stands out and continues to expand despite volatile economic conditions.

Product innovation is a guiding principle at Bitget, proven most meaningfully through their flagship products, including copy trading and derivatives trading. According to Coinmarketcap and Coingecko, Bitget is now a top 5 derivatives trading platform in terms of volume and open interest. Bitget is going beyond derivatives to expand its product offerings and create a one-stop crypto investment solution for its users. 

Bitget Academy – Learn & Prepare to Thrive in Web3 

Picture this: You’re a young investor eager to dive into the world of crypto trading but don’t know where to start. You’ve heard about cryptocurrencies like Bitcoin, Ethereum, and Polygon Matic, but the technical jargon and volatility of the market make it intimidating to jump in. That’s where Bitget Academy comes in. Bitget Academy provides in-depth guides, practical tips, and market updates covering everything from the basics of blockchain technology to advanced trading strategies. With the mission to simplify financial information, Bitget Academy aims to enable responsible crypto trading through educational written and video content.

Bitget – A Keen Advocate of Decentralization

Recent years have seen a surge in the discussion surrounding decentralization and Web3. The need for decentralization arises from the centralized control of traditional financial systems and the potential risks it poses to the security and privacy of users. Bitget has taken significant steps to scale up decentralization in the industry. This has been accomplished in part by the exchange’s Bitget Launchpad and Bitget Spot Trading, where new projects are incubated and listed through initial exchange offerings (IEOs). Bitget Launchpad provides a platform for new blockchain-based projects to find their feet in the industry and boost decentralization in Web3. Project owners can tap into Bitget’s wide-ranging community and extensive resources to build and operate transparently.

To further promote decentralization, Bitget launched MegaSwap in December 2022. MegaSwap is an advanced decentralized finance (DeFi) aggregator that gathers liquidity from the top 10 decentralized exchanges (DEXs), including Uniswap, Pancakeswap, and Curve, among others. MegaSwap enables users to swap over 10,000 cryptocurrencies from 8 chains in a user-friendly way.

Bitget x Shardeum 

Shardeum is an EVM-based L1 smart contract platform that utilizes dynamic state sharding to scale linearly, enabling it to maintain true decentralization and solid security. Through this, Shardeum resolves the scalability trilemma, which limits the existing blockchain technology slowing down its mass adoption. Shardeum stands out from other blockchain platforms by being the first to implement linear scalability with atomic and cross-shard composability. Linear scalability allows the network to process 1 million TPS and beyond while retaining low and constant transaction fees. With autoscaling, the network will operate efficiently. Note, Shardeum has publicly demonstrated linear and auto scalability to the community in 2022.

Shardeum is keen on horizontal growth and is particular about permissionless participation of the community to operate nodes on the network with minimal hardware requirements. 

As the world’s fastest-growing crypto trading platform, security and privacy is always Bitget’s top concern as a means of encouraging people to adopt Web3 confidently. Bitget has chosen to partner with Shardeum (stay tuned for an official announcement) due to its exceptional scalability and security features. Shardeum’s state-sharded architecture provides the highest throughput capacity of any EVM-based L1 while maintaining true decentralization. This partnership aims to offer Bitget’s users a secure and seamless trading experience while granting the blockchain network access to Bitget’s large user base. As a result, Bitget users will have the opportunity to trade SHM, Shardeum’s native token, and other DApp tokens built on the Shardeum network in the future. 

Sidenote: Shardeum is in its betanet stage currently and is open to the community running validator nodes on the network. It has enabled GUI interface for anyone, including beginners, to run a node easily on the network. You too can run a node by following these simple steps!

Closing Thought 

With the cryptocurrency industry constantly evolving, more and more centralized exchanges are embracing the value of providing their users access to DeFi products and services. The partnership between Bitget and Shardeum serves as a striking example of the surging trend that we see in terms of collaboration between centralized and decentralized finance. After all, we must recognize we are still in a centralized world and learn to take away the positive aspects of Web2, improve upon its negatives and replace it with a more equitable version, i.e., Web3 in the long run.

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In no event shall Shardeum Foundation, “licensor,” its associates, its employees, its contractors, its board members, and its partners be liable for any special, direct, indirect, incidental, exemplary, or consequential damages, expenses, lost profits, lost savings, business interruption, lost information, or any other damages arising out of the use or inability to use the Shardeum blockchain, its layer one technology, its derived or compiled software, or its source code, even if such party has been advised of the possibility of such damages and notwithstanding the failure of essential purpose of any remedy. In no event shall the licensor be liable under any theory of liability, whether in an equitable, legal, or common law action arising hereunder for contract, strict liability, indemnity, tort (including negligence), or otherwise, for damages which exceed $1,000 and notwithstanding the failure of essential purpose of any remedy.

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